International TV Co-Editor
Ian Katz: Channel 4 | Meet the Controllers | Edinburgh TV Festival 2018
Channel 4 suffered its biggest ever loss last year, in a financially tough year that saw content boss Ian Katz turn down his bonus.
The Gogglebox network, which was not sold by the government in early 2023, reported a £50m ($65m) deficit for the whole of 2023. At an annual briefing today, bosses stressed the network was prioritising spending on content over containing the deficit.
No Channel 4 deficit in recent years has come close to £50m, with the previous highest figure being £27m in 2012. A smaller deficit is expected this year, CEO Alex Mahon and Katz said today, but the second half of 2024 in particular is still financially challenging, partly due to the government’s upcoming autumn budget and its impact on consumer confidence. “We have chosen to prioritise content investment and as a result we will record a significant content deficit in 2023,” Mahon said as she introduced the briefing. “The biggest contribution we can make is what we spend on UK IP.”
